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Dunwilla 7 Cumming Street, Forres, IV36 1NS
Substantial renovation project, detached 3/4 bed in Forres with noted structural movement; priced £50k below Home Report to reflect scale of works needed, suited to experienced buyers
Street Address
Dunwilla 7 Cumming Street, Forres, IV36 1NS
Price
OIRO
£190,000
Property Type
Detached house
Property Reference
MFL0250836
What3Words:
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An opportunity to acquire a detached 3/4 bedroom home in a well-established area of Forres, offering excellent potential for those prepared to undertake a substantial and involved project. This is not a standard renovation and is being marketed with complete transparency; the property requires significant investment and major works and will best suit experienced developers, builders, or buyers with the vision and resources to restore it into a fantastic family home.
The accommodation currently comprises an entrance vestibule, lounge, kitchen/diner, dining room, which could serve as a fourth bedroom, a ground floor bedroom and shower room, with a bathroom located on the half landing and two further bedrooms on the first floor, providing a flexible layout once upgraded.
It is important that prospective purchasers are fully aware that the property requires extensive works throughout, not only in terms of internal modernisation and refurbishment, but also structurally. Surveyors have noted evidence of settlement and movement, visible through cracking to walls and deflection in flooring. This movement is considered significant and potentially progressive, and as such any purchase would likely be subject to a structural engineers report being commissioned.
The property has been assessed as mortgageable; however, a £30,000 retention has been applied due to essential works required in relation to the movement. The Home Report valuation stands at £240,000 subject to these issues being addressed, with a current lending value of £210,000 reflecting the retention of £30,000. The sellers are realistic about the scale of the project and have priced the property accordingly, seeking offers around £190,000 from launch. This represents not only the retention amount but a further reduction, positioning the property at £50,000 below the full Home Report value to allow a purchaser the scope to undertake the necessary works and ultimately create a superb home.
This is a major project, but one that offers a rare opportunity to transform a substantial property into an exceptional family residence in the town centre. Buyers are encouraged to carefully consider the extent of work involved before arranging a viewing.
Electricity Supply: Scottish and Southern Electricity Networks
Water Supply: Scottish Water
Sewerage: Scottish Water
Broadband / Mobile Coverage: Limited 3G, 4G and 5G.
The accommodation currently comprises an entrance vestibule, lounge, kitchen/diner, dining room, which could serve as a fourth bedroom, a ground floor bedroom and shower room, with a bathroom located on the half landing and two further bedrooms on the first floor, providing a flexible layout once upgraded.
It is important that prospective purchasers are fully aware that the property requires extensive works throughout, not only in terms of internal modernisation and refurbishment, but also structurally. Surveyors have noted evidence of settlement and movement, visible through cracking to walls and deflection in flooring. This movement is considered significant and potentially progressive, and as such any purchase would likely be subject to a structural engineers report being commissioned.
The property has been assessed as mortgageable; however, a £30,000 retention has been applied due to essential works required in relation to the movement. The Home Report valuation stands at £240,000 subject to these issues being addressed, with a current lending value of £210,000 reflecting the retention of £30,000. The sellers are realistic about the scale of the project and have priced the property accordingly, seeking offers around £190,000 from launch. This represents not only the retention amount but a further reduction, positioning the property at £50,000 below the full Home Report value to allow a purchaser the scope to undertake the necessary works and ultimately create a superb home.
This is a major project, but one that offers a rare opportunity to transform a substantial property into an exceptional family residence in the town centre. Buyers are encouraged to carefully consider the extent of work involved before arranging a viewing.
Electricity Supply: Scottish and Southern Electricity Networks
Water Supply: Scottish Water
Sewerage: Scottish Water
Broadband / Mobile Coverage: Limited 3G, 4G and 5G.
The description of properties on the website do not form part of any offer and all statements and photographs are for illustrative purposes only and not guaranteed. Buyers must satisfy themselves on the accuracy and authenticity of each property listed.